You might have heard that as creditors, you get a little more leeway in the matter of debt collection. And that isn’t altogether wrong—although it does keep from you the many factors that can work against you and stop you from getting your money back. So, although legally you have something of an upper hand, if there’s a person who has lost a judgment against you or a person who has failed pay you back a debt, you can still run into a lot of complications.
What are these Complications?
As should come to nobody’s surprise, debtors will try their best to evade debt the best they can. The lengths some of these guys will go to is simply astounding: they’ll file for bankruptcy, they’ll try and hide their assets from you, they’ll even cross state lines or change addresses frequently.
The idea is to make finding them and their assets so difficult you will eventually stop trying. And although you do have 6 years to pursue the issue, few people actually have the time, money, energy, and resources to commit an issue for that long a time. And if the debtors manage to evade you for 6 years and in the case that you do forget about it, you will lose your money.
Of course, the alternative is that you file a lawsuit against them—but in order to do that, you’ll have to take steps before the standard six-year period is over. In short, you need a lot of legal expertise and knowledge to force them into a corner.
Can the Minnesota Laws Stop Me?
No matter how desperate or righteous your case, the state of Minnesota forbids creditors from trying anything that can be labeled as intimidation or coercion. You cannot harass the debtor. You can’t even keep pestering them repeatedly. You can’t even use the threat of social disrepute since you can’t tell anyone publicly of their failure to pay you back.
It’s also a pretty bad idea to use anything (orally or in writing) that isn’t exactly true—such as telling the debtor that they’ll be arrested if they don’t pay up is (a) not true and (b) not advised.
The 571.72 General Garnishment Provisions of the 2019 Minnesota Statutes talks about this in detail. But you aren’t altogether without options.
What You Can Do Instead
Here’s what you can do instead of wasting time and resources after the debtor who is protected by the state: sell your judgment to us if your debtor is in Minnesota. We’ll pay you in cash, and you can forget about getting the debtor to pay. We’ll look after that. You can get in touch with us here or read up more about what we do here.